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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities:    
Net income (loss) $ 414,206 $ (427,837)
Net loss from discontinued operations 0 (186,682)
Net income (loss) from continuing operations 414,206 (241,155)
Adjustments to reconcile net income (loss) from continuing operations to net cash provided by operating activities:    
Depreciation and amortization 146,256 133,987
Share-based compensation 14,521 9,854
Excess tax (benefits) deficiencies from share-based compensation (6,627) 162
Realized currency losses 0 11,356
Goodwill impairment charge 0 506,721
Changes in operating assets and liabilities 136,074 499,795
Net cash provided by operating activities from continuing operations 704,430 920,720
Investing activities:    
Purchases of property, plant and equipment (89,993) (74,358)
Proceeds from sale of property, plant and equipment 22,065 6,838
Proceeds from divestitures of businesses 13,705 382,737
Acquisitions of businesses and other investing activities (97,168) (15,393)
Net cash (used in) provided by investing activities from continuing operations (151,391) 299,824
Financing activities:    
Proceeds from debt 31,599 1,885,109
Payments on debt (142,295) (2,082,271)
Share-based awards exercised (19,330) (790)
Dividends paid (231,627) (225,327)
Purchases of stock (184,365) (95,719)
Other financing activities (2,159) (8,357)
Net cash used in financing activities from continuing operations (548,177) (527,355)
Cash flows from discontinued operations:    
Net cash provided by operating activities from discontinued operations 0 31,668
Net cash used in investing activities from discontinued operations 0 (11,131)
Net cash provided by financing activities from discontinued operations 0 0
Net cash provided by discontinued operations 0 20,537
Effect of exchange rate changes on cash and cash equivalents (7,639) (6,959)
Net increase in cash and cash equivalents (2,777) 706,767
Cash and cash equivalents at beginning of period 990,166 276,992
Cash and cash equivalents at end of period $ 987,389 $ 983,759